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Golar LNG new carrier contract

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Hydrocarbon Engineering,

Golar LNG Partners LP (the partnership) has announced that it has entered into a time charter for a period of up to a maximum of nine years with a major international oil and gas company (the new charter) for one of its steam LNG carriers, the Golar Grand. The Golar Grand is currently on charter with Golar LNG Limited (Golar LNG) and will therefore be sub-chartered back from Golar LNG, at the same rate as the new charter, for the initial period of the new charter until the Golar LNG charter ends in October 2017.

The vessel will be delivered under the new charter during the 2Q17 for an initial period of two years with a series of extension options up to the maximum charter period of nine years.

The partnership's operating income before depreciation derived from the Golar Grand will be unchanged until October 2017 when the Golar LNG charter ends. Assuming initial extension options for up to five years are exercised the New Charter is expected to generate on average approximately US$10 million of operating income before depreciation per annum over the full five year term.

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Downstream news Downstream contract news North America downstream news